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Download PDF January 2011 Newsletter

 

The Year 2010 in Review

Snapshot of Photonics Industry M & A Transactions

2010 began with M&A transactions closing at numbers consistent with the low levels of 2009. Activity was low in the first quarter given uncertainties about the economy, healthcare legislation, and weak pricing offered by buyers. Activity increased second quarter and now there is a whirlwind of activity taking place.

Biophotonics segments saw, by far, the most activity - followed by Optoelectronics and Optics and Defense and Security segments. 

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Valuing Privately Held Businesses

Beyond Compliance Toward Relevance & Better Financing Decisions

Measure Lake Winnipesaukee by first measuring the Atlantic Ocean and then identifying, analyzing, and quantifying their dissimilarities. The Capital Asset Pricing Model and Build-Up Method are the accepted and compliant methods to value public and private businesses. Applying these valuation methods, however, to private businesses can be analogous to measuring an ocean and then identifying, analyzing, and quantifying its dissimilarities with a small, yet crystal clear lake. Why not simply measure the lake?

The Private Cost of Capital Model (PCOC) is based on the expected rate of return that private capital markets require in order to attract funds to a particular investment. This model enables appraisers and others to directly derive private business values from private return expectations, allowing a more relevant comparison. As opposed to solely documenting business value for compliancy, the PCOC model promises to help business valuation professionals advise business owners in making better investing and financing decisions.

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Ceres and Newbury Piret Team Up

Investment Banking with a Focus on Photonics 

Ceres Technology Advisors is pleased to announce its joint initiative with Newbury Piret & Company, Inc., a leading global middle market investment banking firm. 

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Pan Mass Challenge

Thank You Corporate Sponsors!

Corporate sponsors, friends, and family rally to support Pan Mass Challenge. Team Dassault raises $415,037 for Dana-Farber Cancer Institute.

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